Finance director: FY24-25 year‑end figures near completion; grants and SDC timing depressed revenue and expenditures

Finance Director James Brand told the council on Aug. 18 that the city has completed its fourth‑quarter accounting close for fiscal year 2024–25 but is still making year‑end adjustments. He said the numbers were prepared a week before the meeting and are largely complete but not final pending journal entries and outstanding checks. Brand said the city received 87% of its budgeted revenues through June 30 and spent about 74% of its budgeted expenditures; he attributed the shortfall in both revenues and expenses to timing delays for grant‑funded projects and SDC transfers, primarily related to HUD grants, the ASR project, Mill Creek Park and Safe Streets for All. He said the audit for the fiscal year has begun and staff anticipates it will finish around October. Brand also provided an update on the vehicle fleet transition with Enterprise: the city has acquired multiple police and public‑works vehicles through the program and is cycling owned vehicles out over time. No formal council action was taken; Brand answered questions and council members thanked staff for streamlining the year‑end close process.